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World’s first seafloor mine 2 years away: Nautilus CEO

Nautilus Minerals is trying to build the world’s first seafloor mine – and it says it’s about two years away from production.

President and CEO Stephen Rogers tells BNN the company is in the early stages of manufacturing the specialized equipment it will use in its seafloor production system off the coast of Papua New Guinea. He expects production at the Solwara 1 copper-gold deposit to begin in the last quarter of 2013.

“We’re planning to a resource update at Solwara-1 based on the drilling work we carried out this year, and then we move forward to the build program in the next 12 months,” Rogers says.